ModulTrade — Democratize Global Trade
About ModulTrade
It is all a matter of perspective, do you want to keep the same old systems going, keep the same failing organizations in business or do you want to break up the status quo for the better? In the world of trade, banks sit and act to administer the process, at a cost. They charge you for an account, they charge you to move money from your account and then charge you when you want to buy and sell abroad. And yet they work for you and use your money to make money.
The business world is held ransom to an inefficient and expensive process that empowers and enriches financial institutions who have little or no incentive to reform the system. But reform is coming, change is happening and ModulTrade is in the vanguard, leading the way.
How? Simply through blockchain technology, the sound and sensible principles of distributed ledger technology may have been masked by the fizz and pop of Bitcoin and alternatives currencies but the fundamental strength of the design of the blockchain makes it as secure as the bedrock of this planet. And the ideal source from which to build a new business world, where proven funds sit in genuine accounts creating a safe open system where irrespective of size or location businesses can meet and transact, without any middlemen and agents of middlemen to muddle the process.
The banks who run the system tell us this is the way it is, that this is the way it has to operate because this is the way they operate, have always operated and they know best. Yet every major financial institution has faced failure or been sued for fraud in the past 5 years.
So, imagine a world where through your mobile phone you can buy and sell directly with partners knowing through the power of a smart contract that you will get paid, on time and in full. No delays, no extra costs, no compounding of risks. That world, that vision is being made real by ModulTrade, today.
Can small enterprises be a part of the the global trade?
The small guy often gets overlooked or passed over on the sports fields. The business world does not seem to be very different: small, agile, smart businesses are often overlooked and their ideas ignored by corporate behemoths who fiercely defend their territory. However, as businesses like Google and Facebook have shown, if you change the rules of engagement, you can fundamentally change the future in less than 20 years.
In today’s world the game changer is the distributed ledger technology, more commonly known as Blockchain. This technology is set to change every aspect of the digital economy for both consumers and businesses. Pioneers in adopting blockchain technology for business are expected to become household names in a relatively short time frame. They are companies, like ModulTrade, who have used their deep understanding of business and international trade to shape and build a better, fairer way of doing business globally.
The key success factor for capturing the market attention is the team’s ability to put the customers at the heart of the process and to empower them. In this way every business can have a role in conducting trade without relying on middlemen, ultimately democratizing business.
For the small or medium or even micro business the challenge is how to grow, reach new markets and mitigate risks related to payment, counterparty credibility and delivery of goods. ModulTrade Value Ecosystem solves this equation by providing an environment where a business can introduce itself, find opportunities, earn trust through the transparency of smart contracts and increase their reputational capital.
Will businesses join up? The challenge for any new business service is adoption: people could be sceptical, fail to understand the benefits or just miss the point. This may be particularly true for conventional services, whose adoption often provides a limited range of benefits. ModulTrade system, on the other hand, provides broad spectrum benefits to the businesses. Rather than a mere cost cutting exercise, it can help business remove lock, stock and barrel. Rather than a mere trade directory, it is a community like Linkedin networking system. Built across the supply chain that it acts to unite, it links together each constituent part, providing a seamless straight through process from manufacture to end user or retailer.
To curate the community and to nurture the adoption rate, ModulTrade will focus on some key market sectors, verticals where the imbalances in risk versus return have isolated the industry from a much needed change. The platform launch, within 6 months after token sale, will involve a campaign of education, explanation and market testing. Businesses will be invited to join in creating a marketplace where their profit margins can be used to support their own growth rather than being paid away to intermediaries.
ModulTrade Value Ecosystem is run on the Blockchain. Micropayments will keep the process running and the costs to the businesses will be covered in a single product sale, without implying the need to recoup over bulk orders. Short order runs can work, small-order speculative buys can be achieved for the same cost of shipping the manufacturing output out of China.
Whilst the network is owned by ModulTrade, profits are not forecast to be those of a monopolist ramping up the price for an oversized gain on a commodity or on the market access. Business return is rooted in the principle of “make it work, make it fair, make it transparent and people will see the benefits and use it”. ModulTrade understands that business owners are not irrational, but they are often forced to work in a set way because their banks create a trade blockade. When they will be shown a better way to control the terms of their trades, they will come massively. ModulTrade does not need to exploit its customers to make money, it wins by giving them what they need. And it works on their behalf to keep delivering it.
How will the ModulTrade platform connect 400mln MSME’s to global trade?
When the founders first got together and created what we now know as ModulTrade, we immediately knew that we wanted to give MSME’s the same opportunities and chances that larger counterparts have with global trade. The next question we asked ourselves was, how?
Blockchain technology has changed and is still changing how businesses operate. While traditional institutions in the banking world rest, we identified the wide scope and opportunity blockchain technology offers to global trade, for the better, and made the decision to take this from an idea on paper to a full end-to-end trade product.
By leveraging on the smart-contract blockchain based technology, our aim is to build a value ecosystem fit for global trade. A digital network value structure that is real-time, accessible at any time, from anywhere in the world. It will feature cost effective solutions and provide a stepping stone to supporting future fintech developments.
With blockchain technology the base of our ecosystem, the platform will work by connecting users through four main components:
- Blockchain based smart-contract multi-sided platform (MTP): to replicate banks’ trade finance instruments (Letter of Credit and Guarantee) and to offer users this service in a trustful and cost-effective way, while also connecting them to other services like logistic and insurance;
- Trade related services platform: to simplify trade execution via 3rd party service providers e.g. payments, logistic, financing, tax and bookkeeping;
- Trade & Reputation network: to facilitate monetary transactions of users within their reputation capital being a function of reputable collaboration within the ecosystem;
- Marketplaces: to find reliable counterparties globally and to make optimal choices of goods and prices.
- And it is in this framework the ModulTrade ethereum based token, MTRc, will be used as a key for users to meet, commit and execute trade — all within a trusted, secure and safe environment.
With our four-pillared solution as a means of turning an idea into reality, we find ourselves at the forefront of revolutionising the way MSME’s around the world will trade. All by utilising blockchain technology to its full potential.
ModulTrade invited to participate in top 10 accelerator program
In November, the ModulTrade team will be heading out to Silicon Valley, to take part in the accelerator and incubator programme at Founders Space.
Over the duration of two weeks, the ModulTrade team will be taken through an intensive course and put through their paces as they get deeply involved in classes, workshops, lectures and mentoring, all to support start-ups from around the world. At the end of the programme, the team will be also be afforded the opportunity to pitch directly to investors.
The team are delighted to have been personally invited to take part in the programme, and are looking forward to hearing from mentors and networking with start-ups from a wide variety of industries.
New MVP released for ModulTrade
We have just released a new version of the ModulTrade minimum viable product for another round of testing. This latest prototype will now test all the trading flows using a test Ethereum blockchain platform.
The following features have been added, to create a complete and full trade flow:
- A Smart-Contract is created for every traded proposal when it’s traded
- A Buyer can make a test payment with ETH to the Smart Contract
- The Smart-Contract tracks and saves the package status
- The Smart-Contract sends funds to the Seller when a package is delivered
Please follow the link below to try it for yourself and share your comments on how we can improve. We value your feedback, so we can go on to build the ModulTrade Value Eco-system to its full potential!
ModulTrade community keeps on growing
Since we launched in October, we have seen the community across our social media channels grow and grow, and we want to personally thank everyone who is supporting our project.
ModulTrade aims to democratize trade for MSMEs (micro, small and medium enterprises) around the world, and the following we have received from individuals in Russia, the Middle East, Asia and Europe, speaks of our global mission.
We have a loyal group of 1800 fans on Facebook and 563 followers on twitter. Our telegramcommunity has reached a staggering 1,925 individuals and we have seen great success onBitcoinTalk, with positive conversation threads reaching 56 pages, 1,116 replies and a total of 11,176 views, to date.
As we continue to develop and expand the ModulTrade product, we hope to see our community grow too, alongside the amount of interest and support from all involved.
ModulTrade named one of Top 20 Most Promising Blockchain Technology Solution Providers
We are very proud to announce that ModulTrade has been certified as one of the Top 20 Most Promising Blockchain Technology Solution Providers 2017, appointed by media outlet, CIO Review.
Audited by a panel comprising of CEOs, CIOs, VCs, industry analysts, and the magazine’s editorial board, ModulTrade has been specially selected and rightfully earned a place as one of the top 20 companies based on the project’s innovative use and application of blockchain technology and the ability to provide an effective, economic and viable solution.
ModulTrade will feature in CIO Review’s special blockchain report, with comment from ModulTrade’s CEO and Co-founder, Evgeny Kaplin, exploring the barriers faced by MSMEs (micro, small and medium enterprises) to execute global trade, the solution ModulTrade will provide, and the technology built behind the product.
ModulTrade has now officially LAUNCHED its global digital trade platform (MTP)
Are you running a micro, small or medium enterprise? Frustrated with not having the same opportunities as larger companies? Looking to expand your global footprint? Struggle no more, as ModulTrade has now officially LAUNCHED its global digital trade platform (MTP).
Please visit https://product.modultrade.com/ and start to trade around the world, trustfully and at minimal costs.
From today, every business operator, no matter their company size, location or service, can meet, commit and execute trade on our fully functioning blockchain based platform. Through very simple steps, whether you’re a buyer, seller, or both, you can easily register and update your profile, add a shipping and pick-up address, and use ETH wallet with a ModulTrade account to make your secure and trusted transactions.
Our application of smart-contracts means funds are locked right up until products are received, so you don’t have to worry about paying for goods before you see them. We integrated DHL (other logistic companies will be added soon) so you can track the progress of your delivery in real-time, on the MTP.
If you want to sell a product, all you need to do is follow these simple steps to trade with freedom:
- Create your proposal to sell your product
- Select your method and terms of payment
- Select your delivery terms and logistics company
- Publish your proposal — a link will be created which you can share on other channels. Upload high-res images to best market your product.
- Receive confirmation from MTP when the buyer has sent funds to a smart-contract
- Ship your product and send tracking number to smart-contract — use our integrated DHL service to track progress in real time
- Receive payment — as soon as the product is delivered, funds will be automatically released to your wallet
And, if you’re a trusted buyer…
- Select a proposal you want to buy
- Confirm your details to ignite the smart-contract
- Confirm the trade by sending money to the address of the smart-contract (seller will ship your product once they are notified that funds are on the smart-contract)
- Track the delivery of your product in real-time
- Receive your goods
- The payable amount is automatically transferred to the seller.
To allow entrepreneurs to test the ModulTrade Platform, some MTRc has been released for free float in the system. Users may buy and sell MTRc at a nominal price of 1ETH = 700MTRc at the exchange, Etherdelta.com. And you can buy MTRc with 30% discount at ModulTrade Token Distribution at https://en.modultrade.io/
Soon, the ModulTrade platform will buy MTRc at a nominal rate for fiat from merchants. Currently, both sellers and buyers may choose between MTRc or ETH payment token, with plans to soon accept other ERC20 tokens, along with fiat (USD, EU, £ etc.).
A unique one-stop digital hub, the ModulTrade platform will change the way you trade, open networks across the globe, and provide a platform which will ultimately save you time and money. So, join us now and be a part of democratizing global trade by visiting the ModulTrade platform today to buy and sell goods with MTRc and ETH. What are you waiting for? The ModulTrade Team. Enjoy the freedom to trade!
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Bitcointalk username: duosre
Profile link: https://bitcointalk.org/index.php?action=profile;u=1188940
ETH-wallet: 0x3E9D246C216e1817313839E78E6CE414872c45BF